In the Sri Lanka’s industrial production, “print and recorded media production” showing significant growth and increase index than other years.
According to the Industrial Production Index, officially released by the Department of Census and Statistics for July 2020, the Industrial Production Index for July 2020 has increased by 2.4% compared to July 2019.
According to a statement issued by the department on Friday, September 11, the index for July 2020 and 2019 was 111.1 and 108.6 respectively.
The press release further states that 10 out of 20 product categories in the manufacturing industry have shown positive growth compared to July 2019.
Of these, “Print and Record Media Production”, “Beverage Production” and “Other Production” recorded significant growth of 98.8%, 32.4% and 17.4% respectively.
“Production in the food sector grew by 13.7% in July 2020.”
Out of the 10 product categories that showed a decline, “Leather and Leather Product Production”, “Electrical Equipment Manufacturing” and “Garment Manufacturing” recorded a decline of 40.3%, 20.8% and 17.2% respectively compared to July 2019, respectively.
The Department of Census and Statistics compiles a number of economic indicators, including the Industrial Production Index.
The department points out that these data are important to identify the trends in the economy, identify the key sectors that drive economic growth, and evaluate economic performance.
“The Industrial Production Index identifies the shape of the industrial sector of the economy over a given period of time. It also identifies short-term changes in the industry.